EC141 Prin of Economics I (Macro)

for S2T 2006

Mission Statement: The mission of Park University, an entrepreneurial institution of learning, is to provide access to academic excellence, which will prepare learners to think critically, communicate effectively and engage in lifelong learning while serving a global community.

Vision Statement: Park University will be a renowned international leader in providing innovative educational opportunities for learners within the global society.

Course Description: A study of the contemporary American economy; the role of investment, consumption, and government on income determination; and an analysis of the foreign sector. Emphasis is on contemporary problems: unemployment, inflation, and growth. 3:0:3

Educational Philosophy: My educational philosophy emphasizes interactivity based on readings, lectures, individual discussion threads, groupwork activities, homework assignments and exams. Web-based activities are used as a research tool that allows students to analyze contemporary topics of interest from the economic perspective.

Learning Outcomes:Core Learning Outcomes

Graph supply and demand in a single graph, define basic items or concepts related to the graph, and use the graph to explain the process by which a good's equilibrium price and quantity are attained.

Graph the short-run aggregate demand-aggregate supply model (assuming the economy is in the expansionary phase of the business cycle) in a single graph and define basic items or concepts related to the graph. Define cost-push inflation and demand-pull inflation. Use the graph to identify shifts in the AD/AS curves reflecting the two types of inflation, and identify subsequent changes in the price-level and real output.

Define expansionary and contractionary fiscal policies, including the means by which they are achieved. Use the graph of the aggregate demand-aggregate supply model drawn in Learning Outcome #2 to identify shifts in the AD/AS curves and subsequent impacts of these policies on real output and the price level.

Define tight and easy monetary policies, including the Federal Reserve tools used to achieve them and when each type of policy would be appropriate. Use the graph of the aggregate demand-aggregate supply model drawn in Learning Outcome #2 to identify shifts in the AD/AS curves and subsequent impacts of these policies on real output and the price level.

Use the circular flow model to explain why Gross Domestic Product can be measured either through the income or expenditures approach.

Core Assessment:

All Park University courses must include a core assessment that measures the course Learning Outcomes. The purpose of this assessment is to determine if expectations have been met concerning mastery of learning outcomes across all instructional modalities. For this course, the core assessment is a final exam to be administered in all sections of EC 141. The exam is NOT OPEN BOOK. It is worth 20 percent of the student's final grade and will test students' mastery of four core learning outcomes (Learning Outcomes 1, 2, 3, and 4 listed on this syllabus) through definitions, short essay, and graphing questions. For each core learning outcome, the student should be prepared to draw the relevant graph, define basic concepts or policies, identify relevant shifts in the curves, and state final impacts on relevant variables.

Late Submission of Course Materials: Weekly work must be submitted not later than Sunday midnight of each week. Late work will not receive full grade credit. Work not turned by the due date, but which is turned in no more then 7 days late, will receive 1/2 the score it would have received otherwise. Homework not received within 7 days of the due date will not be scored. No work received after the last Saturday of the term will be scored.

Course Topic/Dates/Assignments: Week 1: Our objective is to understand economic terms and concepts. We will study the nature and method of economics, the economizing problem and review the construction and interpretation of graphs. The reading assignment for week 1 includes chapters 1 and 2 and the chapter 1 appendix in the text.

Week 2: We will take a look at competitive market models and the important concepts of supply and demand. The reading assignment includes chapters 3 and 4 in the text.

Week 3: We'll learn about important concepts in the United States Economy, both the public and the private sectors. Then we'll consider the United States in the global economy. The reading assignment for this week includes chapters 5 and 6 in the text.

Week 4: We'll have a Mid Term Exam and learn about key economic concepts. Our topics are economic measurement tools and indices of economic activity as well as economic growth, inflation and unemployment. The midterm exam covers all course materials through chapter 8. The reading assignment are chapters 7 and 8 in the text. Also, your proctor forms are due to be in your instructor's hands this week.

Week 5: We address Keynesian and classical economic theories and the aggregate expenditures model. The reading assignment this week includes chapters 9, 10, and 11 in the text.

Week 6: We consider governmental stabilization policies at work during the business cycle and an introduction to the United States banking system. The reading assignment this week is chapter 12 an 13 in the text.

Week 7: This week we will look at the creation of money by banking institutions and the mechanics of monetary policy. The reading assignment includes chapters 14 and 15 in the text.

Week 8: This will be a busy week. The policy at Park University is for each of you to take a significant, proctored exam during the Eighth week of the class. Unless you are more then two hours from the nearest Park site, you are expected to take the exam at one of the Park sites. We will also review current economic events using concepts that you have learned from the course. There is no additional reading assignment during week 8 but students are encourages to review chapters not assigned earlier in the course.

Academic Honesty:Academic integrity is the foundation of the academic community. Because each student has the primary responsibility for being academically honest, students are advised to read and understand all sections of this policy relating to standards of conduct and academic life. Park University 2005-2006 Undergraduate Catalog Page 85-87

Plagiarism:Plagiarism involves the use of quotations without quotation marks, the use of quotations without indication of the source, the use of another's idea without acknowledging the source, the submission of a paper, laboratory report, project, or class assignment (any portion of such) prepared by another person, or incorrect paraphrasing. Park University 2005-2006 Undergraduate Catalog Page 85-87

The instructor may excuse absences for valid reasons, but missed work must be made up within the semester/term of enrollment.

Work missed through unexcused absences must also be made up within the semester/term of enrollment, but unexcused absences may carry further penalties.

In the event of two consecutive weeks of unexcused absences in a semester/term of enrollment, the student will be administratively withdrawn, resulting in a grade of "WH".

A "Contract for Incomplete" will not be issued to a student who has unexcused or excessive absences recorded for a course.

Students receiving Military Tuition Assistance or Veterans Administration educational benefits must not exceed three unexcused absences in the semester/term of enrollment. Excessive absences will be reported to the appropriate agency and may result in a monetary penalty to the student.

Report of a "F" grade (attendance or academic) resulting from excessive absence for those students who are receiving financial assistance from agencies not mentioned in item 5 above will be reported to the appropriate agency.

ONLINE NOTE: An attendance report of "P" (present) will be recorded for students who have logged in to the Online classroom at least once during each week of the term. Recording of attendance is not equivalent to participation. Participation grades will be assigned by each instructor according to the criteria in the Grading Policy section of the syllabus.

Disability Guidelines:Park University is committed to meeting the needs of all students that meet the criteria for special assistance. These guidelines are designed to supply directions to students concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the Americans with Disabilities Act of 1990, regarding students with disabilities. In the case of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Park University is committed to meeting the needs of all learners that meet the criteria for special assistance. These guidelines are designed to supply directions to learners concerning the information necessary to accomplish this goal. It is Park University's policy to comply fully with federal and state law, including Section 504 of the Rehabilitation Act of 1973 and the American with Disabilities Act of 1990, regarding learners with disabilities and, to the extent of any inconsistency between these guidelines and federal and/or state law, the provisions of the law will apply. Additional information concerning Park University's policies and procedures related to disability can be found on the Park University web page: http://www.park.edu/disability .

Copyright:

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